Rising Issue: Despite a busy mall environment, certain product categories and tenants in our client’s mall are experiencing lower-than-expected sales. The issue is further complicated as competitors are reshaping their image to attract luxury shoppers.
Collaboration Objective: Our client aims to assess the feasibility of enhancing the mall’s positioning, transforming it into a luxury destination. This strategic initiative is designed to boost engagement among existing visitors while attracting a new and diverse visitor segment, creating a sophisticated and appealing retail environment.
What We Do: We assist the client in evaluating the feasibility of brand repositioning for the mall, considering the current visitor conditions, the potential to attract new customer segments, and the efforts required to implement the repositioning.
Strategic Impact: Our client successfully avoided unnecessary costs related to ineffective repositioning strategies. This smart maneuver allowed them to allocate resources wisely, focusing efforts on initiatives that promised the highest value in the dynamic retail landscape. The result is a strategic approach that not only protects from excessive costs but also ensures sustainable and impactful outcomes for their mall property.
